Yinson Clover (YCL) has secured a contract with Talisman Vietnam (TLV) for the supply, operation and maintenance of a floating production storage and offloading (FPSO) vessel for Ca Rong Do field in the Block 07/03 offshore Vietnam.
The FPSO will be chartered on a time charter basis for a firm period of ten years with five extension options of one year.
The estimated potential value of the bareboat charter is around USD 1.0 billion for the entire fifteen-year charter inclusive of all five yearly extension options.
TLV, a wholly owned subsidiary of Repsol, is the operator of the Ca Rong Do field.
The other partners in the field are PetroVietnam, PetroVietnam Exploration Production Corporation (PVEP), Mubadala Petroleum, and Pan Pacific Petroleum.